Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Walhalla Land for Multi-Family Investment Title is generated by Realmo AI

    103 S Spring Street, Walhalla, SC 29691

    View on Map
    Claim this Listing
    For Sale
    $400,000

    COMMERCIAL - Walhalla, SC

    Lot size:
    1.58 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 1 at 3:06 pm

    Property Features for 103 S Spring Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    500-20-01-011
    Lot size
    1.58 Acres

    We can help!

    Listing Contact
    Holly Douglas
    Holly Douglas

    Listing agent Holly Douglas License #88953

    Listing office Clardy Real Estate - Lake Keowee 816 Hwy 123, Seneca, SC

    Listing date Apr 11, 2026

    MLS# 20299836

    Copyright © 2026 Western Upstate Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in downtown Walhalla, near popular businesses like Sunni Anne's Mercantile and Walhalla Steakhouse.
    • Large 1.58‑acre lot suitable for multi‑family investment.
    • Bordered by two streets, S Spring Street and E South Broad Streets, potentially allowing for flexible resident parking options.
    • Relatively flat lot with only slight elevation changes, simplifying construction.
    • Proximity to outdoor recreation and cultural attractions.
    • Convenient access to essential amenities within 5 minutes.

    Overview

    This 1.58-acre lot presents an opportunity for multi-family investment. It is located on the same block as local businesses such as Sunni Anne's Mercantile, the Walhalla Steakhouse, and Mountain Mocha. The lot is bordered by S Spring Street and E South Broad Streets, potentially allowing options for resident parking. The lot is relatively flat with slight elevation changes. Walhalla, the county seat of Oconee County, is known for its mountains, lakes, and waterfalls. Nearby attractions include hiking trails and mountain biking at Stumphouse Mountain Bike park, the Walhalla Performing Arts Center, three museums, the city pool, and Sertoma field. Grocery stores, clothing stores, pharmacies, medical facilities, and schools are all within 5 minutes of this location. Buyers should consult the City of Walhalla to ensure their plans meet city ordinances.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Walhalla
    County
    Oconee
    State
    South Carolina
    Longitude
    -83.062669
    Latitude
    34.763814

    Nearby Similar for Sale

    • $425,000
      4,486 SF

      Historic Building in Downtown Walhalla

      Impressive historic commercial building with redevelopment potential in downtown Walhalla.
      109 Catherine Street, Walhalla, SC 29691
      View Details
    • $500,000

      Iconic Walhalla Space For Sale

      Versatile 2200+ sqft space suitable for retail, events, or office.
      230 E Main Street, Walhalla, SC 29691
      View Details
    • $315,000
      5,663 SF

      Versatile Commercial Property in Walhalla

      Two-level commercial building in historic downtown Walhalla with income potential.
      228 E Main Street, Walhalla, SC 29691
      View Details
    • $399,900

      Downtown Walhalla Investment Opportunity

      Prime commercial building in downtown Walhalla with immediate income.
      206 E Main Street, Walhalla, SC 29691
      View Details
    • $189,900

      Remodeled Commercial Property in Downtown

      Meticulously remodeled commercial property in the heart of downtown.
      80 Short Street, Walhalla, SC 29691
      View Details
    • $100,000

      Commercial Land on Main Street

      Vacant commercial lot in downtown Walhalla, South Carolina.
      E Main Street, Walhalla, SC 29691
      View Details
    • $179,900

      Versatile Commercial Property on Main

      0.5-acre commercial property in Walhalla with development potential.
      604 Main Street, Walhalla, SC 29691
      View Details
    • $145,000

      Prime Downtown Walhalla Development Opportunity

      Nearly one-acre lot in the heart of Downtown Walhalla.
      W North Broad Street, Walhalla, SC 29691
      View Details
    • $579,000

      Commercial Building on Highway 28

      Meticulously maintained commercial building with high visibility and ample parking.
      3691 Blue Ridge Boulevard, Walhalla, SC 29691
      View Details
    • $349,900

      Move-in Ready Office Space

      Well-maintained office space in established park, ideal for professionals.
      111 N Earle Street, Walhalla, SC 29691
      View Details
    • $1,676,691
      860 SF

      Protected Acreage in South Carolina Foothills

      169 acres of protected agricultural land near lakes and cities.
      1254 Stribling Shoals Road, Walhalla, SC 29691
      View Details
    • $449,900

      Renovated Commercial Space on Main

      Renovated commercial space ideal for retail, office, or restaurant.
      212 E Main Street, Walhalla, SC 29691
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.58 acre lot near downtown Walhalla businesses.
    Where is this residential land & home lot located?
    The property is located at 103 S Spring Street Walhalla, SC.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Prime location in downtown Walhalla, near popular businesses like Sunni Anne's Mercantile and Walhalla Steakhouse.; Large 1.58‑acre lot suitable for multi‑family investment.; Bordered by two streets, S Spring Street and E South Broad Streets, potentially allowing for flexible resident parking options.
    (864) 992-7820
    We can help!
    Listing Contact
    Holly Douglas
    Holly Douglas
    Real Estate License ID: 88953
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    103 S Spring Street, Walhalla, SC 29691
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!